You are here » Home » Companies » Company Overview » Bayer CropScience Ltd

Bayer CropScience Ltd.

BSE: 506285 Sector: Agri and agri inputs
NSE: BAYERCROP ISIN Code: INE462A01022
BSE 00:00 | 23 May 4748.30 62.55
(1.33%)
OPEN

4700.05

HIGH

4766.90

LOW

4699.05

NSE 00:00 | 23 May 4731.15
(%)
OPEN

4727.70

HIGH

4766.55

LOW

4680.35

OPEN 4700.05
PREVIOUS CLOSE 4685.75
VOLUME 361
52-Week high 6127.45
52-Week low 4101.20
P/E 42.04
Mkt Cap.(Rs cr) 21,339
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 4700.05
CLOSE 4685.75
VOLUME 361
52-Week high 6127.45
52-Week low 4101.20
P/E 42.04
Mkt Cap.(Rs cr) 21,339
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Bayer CropScience Ltd. (BAYERCROP) - Company History

Bayer CropScience is a world leader in the areas of crop protection pest control seeds and plant biotechnology. The company offers comprehensive solutions for modern sustainable agriculture and non-agricultural applications. The company operates in the area of Crop Protection Environmental Science and BioScience. The company develops and markets fungicides insecticides herbicides and seed treatment products. They use plant biotechnology and breeding to offer solutions for agriculture nutrition health and biomaterials. The company's manufacturing facilities are located at Himatnagar and Ankleshwar in Gujarat. Bayer CropScience Ltd formerly known as Bayer (India) Ltd was incorporated in the year 1958. The company is the Indian subsidiary of Bayer Germany which is a diversified international chemical and healthcare company. They diversified into inorganic-chemistry-related fields like hard metals engineering ceramics etc after acquiring Hermann C Starck of Berlin Germany. The company was converted into public limited company on December 28 1996.In 1993 the company entered into a strategic alliance with Herdillia Chemicals to manufacture diphyl heat transfer medium. During 1998-99 Jagat Chemicals a 100% subsidiary was amalgamated with the company with effect from January 1 1999. Sales and marketing operations of the Pharma Business Group were discontinued during the month of August 2000 and are now being handled by a new subsidiary of Bayer AG in India. The Trademark License Agreement between Bayer AG and Bayer (India) Limited in respect of Business group Pharma has been terminated with effect from 27th July2000. The Company will continue to manufacture the existing products at Thane on Toll basis for the new subsidiary.Bayer CropScience India Ltd was amalgamated with the company with effect from April 1 2003. The company sold the assets of the Household Insecticide Business of the Consumer Care Division of the company to S C Johnson Products Ltd. The company incorporated a wholly owned subsidiary named Bayer Polychem (India) Ltd on September 15 2003. The non-cropscience businesses of the company comprising of Healthcare Polymers and Chemicals were transferred to the Bayer Polychem (India) Ltd with effect from November 1 2003. The company name was changed from Bayer (India) Ltd to Bayer CropScience Ltd.In the year 2004 the company had entered into an agreement with BASF India Ltd for the transfer of the Fipronil activities to BASF India. The chemical business and part of the polymers business of Bayer Polychem (India) Ltd has been transferred to Lanxess India Pvt Ltd during the year in the a strategic realignment of the Bayer Group worldwide. Also the Material Science business of the company has been transferred to Bayer MaterialScience Pvt Ltd.During the year 2006 the company successfully launched two products namely Admire 70WG an Insecticide for sucking pests in various crops and Dadeci an Insecticide for brown plant hopper control in Rice. In June 2007 the company sold the shares of their subsidiary company Bayer Polychem India Ltd to Bayer MaterialScience Pvt Ltd for the consideration of Rs 3.90 crore.On 29 November 2012 Bayer CropScience announced that it has entered into two separate agreements and executed all other incidental documents for the sale of the company's Land and Building situated at Thane near Mumbai to Agile Real Estate Private Limited (Agile) for total consideration of Rs 1250 crore. The execution of the deed of conveyance in favour of Agile shall be undertaken subsequently. The Board of Directors of the company at its meeting held on 22 July 2013 unanimously approved a buyback proposal for purchase by the company of upto 28.79 lakh equity shares (representing 7.29% of the total equity capital) from all the shareholders of the company on a proportionate basis through the Tender Offer route at a price of Rs 1580 per equity share aggregating to approximately Rs 455 crore. The Board noted the intention of the Promoter Group of the Company to participate in the proposed Buyback.On 13 September 2013 Bayer CropScience announced that it has entered into a business transfer agreement with Deccan Fine Chemicals (India) Private Limited to sell convey assign and transfer its chemical manufacturing facility located at GIDC Industrial Estate Ankleshwar Gujarat as a going concern on a slump sale basis for a total consideration of Rs 127.18 crore.On 30 September 2013 Bayer CropScience announced that it has signed as asset transfer agreement with Bayer MaterialScience Pvt. Ltd. to sell and transfer all the assets related to the manufacturing activity of Poly-isocyanate products at its unit located at Ankleshwar Gujarat for a total consideration of Rs 22.94 crore to Bayer MaterialScience Pvt. Ltd.The Board of Directors of Bayer CropScience at its meeting held on 3 June 2015 unanimously approved a buyback proposal for purchase by the company of upto 12.65 lakh equity shares (representing 3.45% of the total equity capital) from all the shareholders of the company on a proportionate basis through the Tender Offer route at a price of Rs 4000 per equity share aggregating to approximately Rs 506 crore. The Board noted the intention of the Promoter Group of the Company to participate in the proposed Buyback.The Board of Directors of Bayer CropScience at its meeting held on 6 June 2017 unanimously approved a buyback proposal for purchase by the company of upto 10.20 lakh equity shares (representing 2.89% of the total equity capital) from all the shareholders of the company on a proportionate basis through the Tender Offer route using the stock exchange mechanism at a price of Rs 4900 per equity share aggregating to approximately Rs 500 crore. The Buyback size does not include any expenses incurred or to be incurred for the buyback like filling fees advisory fees public announcement expenses printing and dispatch expenses and other incidental and related expenses. The Board noted the intention of the Promoter Group the Company to participate in the proposed Buyback.During the year 2017-18the company was awarded the Mercer NDTV Employer Excellence Awards 2017 in excellence in career development category and was also declared as `Aon Best Employer in India 2018 award for the second consecutive year. The Company has been once again recognized as one of the `100 Best Companies for Women in India' in 2018.During the financial year 2018-19 the Company acquired 1350000 equity shares of Monsanto India Limited at a price of Rs 2926.87 per share aggregating to Rs 3951 Millions while acting as `Person Acting in Concert' as per the resolution passed by the Board of Directors of the Company at its meeting held on May 31 2018. The Mumbai Bench of NCLT conveyed its approval for the Scheme of Amalgamation of Monsanto India Limited (MIL) with Bayer CropScience Limited (BCSL) and their respective Shareholders (the Scheme) vide its order dated September 13 2019 and the certified copy of the order along with the Scheme was filed with the Registrar of Companies Mumbai on September 16 2019 when the merger came into effect.In consideration for the amalgamation of MIL with BCSL in terms of the Scheme and basis the Valuation Report issued jointly by S.R. Batliboi & Co LLP and Bansi S. Mehta & Co. Independent Chartered Accountants as well as the fairness opinion provided by ICICI Securities Limited a Category-I Merchant Banker BCSL issued and allotted 2 (Two) equity shares of Rs 10/- each credited as fully paid-up of BCSL for every 3 (Three) equity shares of Rs 10/- each held in MIL. BCSL held 1350000 equity shares in MIL (7.82% of the paid-up capital of MIL) and on the Scheme becoming effective the equity shares held by BCSL in MIL stood cancelled.The amalgamation of Monsanto India Limited with Bayer CropScience Limited marked an important milestone in the Company's journey. This integration brings together two highly complementary businesses creating an innovation engine for the Indian agriculture. With the integration the company is able to provide Indian farmers a strong portfolio of innovation led agricultural solutions.In view of the nationwide lockdown from 24 March 2020announced by the Government of India to control the spread of COVID-19 the Company's business operations were temporarily disrupted. The Company has resumed operations in a phased manner as per government directives.

.